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Industrial Revolution
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IRON, STEAM AND MACHINES
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- development of iron processing
- introduction of the steam engine machine
- mechanization of the textile industries
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Protestan Reformation:
Renaissance and Scientific Revolution + Religious movement (separation of the Catholic Church from hundreds of thousands of Christians)
Group of bankers & merchants --> entrepreneurs emerged ( individuals that assume not personal economic risks)
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CAPITALISM:This growth was possible thanks to the original accumulation of capital and the reinvestment of the profits of private entrepreneurs, which expanded their facilities to generate more growth.
The industrialization was thus becoming generalized. The labor required by the industries was available in the large neighborhoods of the main cities.
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